Equity Capital Markets
Our ECM team is a recognised market leader in Switzerland. We regularly advise on the full spectrum of equity capital markets transactions, including:
- Rights offerings and other forms of equity raises by Swiss and foreign issuers in Switzerland
- Convertible and other equity-linked instruments
- Block trades, PIPE and other private transactions involving the sale of listed equity
- Innovative structures such as equity facilities, conditional mandatory convertible notes, claw-back structures.
Our clients are Swiss and non-Swiss corporates, investment banks and investors entering into sophisticated, large-scale capital markets transactions and seeking support with their ongoing disclosure, compliance and corporate governance obligations.
Thanks to our international mind-set, proven track-record and distinct legal and drafting skills, our deep bench of capital markets lawyers is widely regarded as the “go-to team” in Switzerland for high profile and complex capital markets transactions (including Rule 144A offerings), working seamlessly with law firms around the world to offer our clients comprehensive, best-in-class coverage.
Examples of our track record include:
- Largest Swiss IPO of the year in 2017 (Landis+Gyr), 2016 (VAT Group), 2015 (Sunrise Communications) and 2014 (SFS), as well as numerous other Swiss IPOs across all sectors, e.g. Addex Therapeutics, EFG Financial Products, HIAG Immobilien, Klingelnberg, MeyerBurger, Partners Group, Sensirion, Thurgauer Kantonalbank, u-blox, VZ Vermögenszentrum
- Complex spin-offs and listings on SIX, e.g. Idorsia / Actelion, Athris /Jelmoli, Givaudan/Roche, Ciba Specialty Chemicals/Novartis, etc.
- Countless rights offerings, e.g. Bell Food Group, Clariant, Dufry, EFG, Evolva, Gategroup, Hochdorf, Leclanché, Leonteq, Mobilezone, OC Oerlikon, Repower, SwissPrimeSite
- Listing of Swiss issuers on a foreign stock exchange, e.g. EDAG Engineering on the Frankfurt Stock Exchange, as well as the listing of foreign companies on SIX, e.g. ACE, Newron Pharmaceuticals and Nobel Biocare
- High-profile equity-linked transactions, such as counsel to the Swiss Confederation in the recapitalization of UBS in 2009 by way of a CHF 6 billion convertible bond, and counsel to GIC and Qatar Investment Authority in their multi-billion CHF investments in equity linked instruments of UBS and Credit Suisse
- Numerous private placements, accelerated bookbuilds and blocktrades every year.
Because of our close involvement in these and countless other transactions we have full insight into the markets both in Switzerland and internationally. This allows us to keep abreast of changing trends, not only in respect of best legal practice but also in respect of commercial and financial terms, ideally placing us to give our clients the most up to date advice and guidance from a legal and practical perspective.